Denis, Sunny. “Explosive Growth on Advanced Biofuel Market Is Record an Exponential at +47% CAGR by 2026: Focusing on Top Key Player like Algenol, Diamond Green Diesel, DuPont, Fiberight, GranBio, Emerald Biofuels.” MarketWatch, 23 Feb. 2019, www.marketwatch.com/press-release/explosive-growth-on-advanced-biofuel-market-is-record-an-exponential-at-47-cagr-by-2026-focusing-on-top-key-player-like-algenol-diamond-green-diesel-dupont-fiberight-granbio-emerald-biofuels-2019-02-23.
Abstract:
This article simply goes over a few predictions and expectation for the global biofuel industry over the coming years and decades. By 2026, the global biofuel industry is expected to grow 35 billion in US dollars. The reason for this speculation is because of an increasingly high yield of raw materials. Between now and 2026, the industry is anticipated to grow approximately 47 percent. It is also estimated to occupy the largest market share in production.
Response:
At first glance, these are some great numbers. With more focus on biofuels, there will be less room for non sustainable fuels. An annual increase like the one predicted is very large and would benefit the industry greatly. Yet we still must take these prediction with a grain of salt. Because, well, they are predictions. I am aware that they are based on solid data, yet it does not mean we should believe they are set in stone. We must be eager to push growth like this, but also be weary that it may not go as we expect.